U.S. PMI Moves to the Highest Level since January 2019
U.S. PMI in October was 53.4, up slightly from September’s 53.2 in line with the flash estimate of 53.3, representing the sharpest rise since November 2019, according to HIS Markit…
The U.S. Senate Could Matter More for Markets than the President
Analysts believe that the Senate will be more important in determining the winners and losers in markets given its ability to advance or block the next president’s agenda, according to…
Fed Expands the Main Lending Program as Focus Shifts to Struggling Smaller Firms
The U.S. Federal Reserve has reduced the minimum loan-level from $250,000 to as low as $100,000 in its Main Street Lending Program to support small and mid-sized firms hit by…
Money Market Jitters. Goldman Money Fund’ Liquidity Rises after March Fall
Two Goldman Sachs money-market funds, hit in March by billions of dollar investor withdrawals, have steadily gained liquidity cushion, much larger than the rivals, according to Reuters. The weekly liquidity…
Apple, Amazon, Facebook, and Google Record Earnings Increases despite Scrutiny Issues
Apple, Amazon, Facebook, and Google posted combined revenues of $220.28 billion, up from $200 billion revenues last quarter, MarketWatch reports. The Big Four, which make up about one-fifth of the…
Google Reports $46.2B Revenues in the Third Fiscal Quarter
Google reported Q3 2020 revenues of $46.2 billion, up 14% from $40.5 billion in Q3 2019, according to the company’s press release. Net incomes rose to 11.2 billion in the…
LVMH Prepares for Tiffany Takeover with $425 Million Discount
French billionaire and LVMH boss Bernard Arnault’s $16 billion acquisition of Tiffany will reduce by $425 million after a discount was agreed between the two companies, according to Reuters. The…
More Job Losses as Exxon Prepares to Axe 14,000 Global Positions, 1,900 in the U.S
Exxon will cut 14,000 jobs globally and 1,900 in the U.S. to reduce employee numbers by 15% as the pandemic hurt energy demand and prices, according to Reuters. The job…
U.S. GDP and Personal Consumption Rise in Q3, but Personal Income Falls
U.S. Real Gross Domestic Production rose at an annual rate of 33.1% in Q3 2020, above an estimated 31.0%, offsetting Q2 2020 declines of 31.4%, according to the Bureau of…
U.S. Initial and Continuing Jobless Claims Fall below Expectations
U.S. initial jobless claims for the week ending October 24 was 751,000, a 40,000 fall from the previous week's revised level, and below expected 770,000, according to the Department of…
Comcast Reports Historic Growth for High-speed Internet Customers. Stock Soars on Q3 Report
Comcast reported Q3 revenues of $25.5 billion, a 4.8% fall from the comparable quarter of 2019, but above expected $24.74 billion, according to the company's press release. Q3 revenue rise…
Economic Recovery in the Euro Area Halts, Employment Expectations Down
October's Economic Sentiment Indicator (ESI) in the Euro area and EU remained unchanged at 90.9 and 90.0, respectively, according to the European Commission press release. Employment Expectations Indicator (EEI) was…
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